However, UAE Exchange won't actually use XRP in its processes. The cryptocurrency is used by Ripple for offering liquidity to institutions but not for international transfer. This nuance is not always made clear.

Dilip Rao, global head of infrastructure innovation at Ripple, said in a statement: "Adding a market leader like UAE Exchange to RippleNet will bring instant, certain, low-cost payments to the millions of retail customers in the UAE who send money abroad."